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PUBLIC SCHOOL BUILDING CAPITAL PROJECTS FUND <br /> BUDGET ORDINANCE <br /> BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North Carolina <br /> that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the <br /> following capital project ordinance is hereby adopted: <br /> Section I. <br /> A. The project authorized is the various County construction and renovation related <br /> projects. Details of the projects are listed in section C. of this Project Ordinance. <br /> B. The officers of this unit are hereby directed to proceed with this capital project <br /> within the terms of the Generally Accepted Accounting Principles (GAAP) and the <br /> budget contained herein. <br /> C. It is estimated that the following revenues will be available to complete capital <br /> projects as listed. <br /> Lottery Proceeds $20,019,308 <br /> Lottery Proceeds— Rowan County 300,000 <br /> TOTAL REVENUES $20,319,308 <br /> $20,319,308 <br /> GRAND TOTAL—REVENUES $20,319,308 <br /> D. The following appropriations are made as listed. <br /> Debt Service $18,419,308 <br /> Construction 1,600,000 <br /> Debt Service—Rowan County 300,000 <br /> TOTAL EXPENDITURES $20,319,308 <br /> $20,319,308 <br /> GRAND TOTAL—EXPENDITURES $20,319,308 <br /> Section II. <br /> A. Special appropriations to non-profit organizations shall be distributed after the <br /> execution of an agreement which ensures that all County funds are used for <br /> statutorily permissible public purposes. <br /> B. The County Manager or designee is hereby authorized to transfer appropriations <br /> within or between funds, or modify revenue and expenditure projections as <br /> contained herein under the following conditions: <br /> Attachment number 3\n <br /> F-5 Page 93 <br />